September 13 (SeeNews) - Romania's finance ministry on Monday sold 431.1 million lei ($103 million/87 million euro) of Treasury bonds maturing on February 12, 2029, above initial target, data from the country's central bank showed.
The average accepted yield for the tender rose to 3.84% from 3.63% achieved at the previous auction of government securities of the same issue held in August, the data indicated.
Demand for the T-notes, which carry an annual coupon of 5%, fell to 831 million lei from 875 million lei at the previous auction.
The issue will be reopened on Tuesday, when the finance ministry hopes to raise 45 million lei in a non-competitive tender.
Details on the issue follow:
Auction date |
September 13 |
August 16 |
Amount offered (mln lei) |
300.0 |
300.0 |
Amount sold (mln lei) |
431.1 |
662.7 |
Total bids placed (mln lei) |
831.1 |
874.7 |
Bid-to-cover ratio |
1.93 |
1.32 |
Yield (%) |
3.84 |
3.63 |
Romania's finance ministry intends to sell 4.4 billion lei worth of government securities in September, including 405 million lei in non-competitive offers.
Year-to date, the finance ministry has sold government bills and bonds worth 39.5 billion lei and 1.6 billion euro ($1.9 billion) and has tapped foreign markets for 7 billion euro worth of 2030, 2033 and 2041 Eurobonds.
(1 euro=4.9444 lei)